Posts Tagged ‘Greece’

European voters are rejecting further fiscal restraint, showing the door over the weekend to former austerity-imposing politicians in Greece and France. In a similar spirit, European Central Bank President Mario Draghi is now calling for a “growth pact” to replace the “fiscal pact” demanded by Angela Merkel’s government in Germany. What Europe’s voters and its [...]

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Another Bailout for the Banks?

Posted by Jeff Rubin on October 6th, 2011 under SmallerWorldTags: , ,  • 20 Comments

You might have thought things had changed in world financial markets since the U.S. subprime mortgage disaster. After all, we were told at the time that if taxpayers didn’t open their wallets and bail out the banks, we could face a complete meltdown of the global financial system and an economic fate rivaling the Great [...]

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The more you hear about the extraordinary efforts that governments around the world are taking to promote economic growth, the less confident you can be in the result. With the clock ticking on a Greek default, members of the European Monetary Union are considering sweetening their bail out pot for a second time since the [...]

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Is Gold A Safe Haven from a Greek Default?

Posted by Jeff Rubin on September 21st, 2011 under SmallerWorldTags: , ,  • 10 Comments

When virtually every global financial institution is exposed to one other in today’s world of free flowing capital markets, where do you hide when bankrupt borrowers like Greece default? Certainly not in French banks, which have lost almost half of their share value over the past year due to their Greek exposure. And if French [...]

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It is getting harder and harder to see where tomorrow’s global growth will be coming from. Job creation in the U.S. has come to a screeching halt. Growth in the Eurozone has done the same. And a still irradiating Japanese economy continues to stagnate, while an emerging energy crisis has suddenly sparked plans to start [...]

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